RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 12, 2018 No. 2018-P-14/53-8

About the Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes"

According to articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes" it (is applied).

2. Recognize invalid:

- The resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes" of November 25, 2015 No. 71/11;

- The resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in the Resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes" of November 25, 2015 No. 71/11" of December 27, 2017 No. 2017-P-14/54-11-(NPA)".

3. To legal management:

- publish this Resolution on the official website of National Bank of the Kyrgyz Republic;

- after official publication to send this Resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. This Resolution becomes effective after fifteen days from the date of official publication.

5. To department of development of state language and document flow to bring this Resolution to the attention of the relevant structural divisions, regional managements and representative office of National Bank in Batken Province.

6. To management of payment systems to bring this Resolution to the attention of commercial banks, operators of payment systems and payment institutes of the Kyrgyz Republic.

7. To impose control of execution of this Resolution on the vice-chairman of the National Bank of the Kyrgyz Republic supervising questions of payment systems.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of December 12, 2018 No. 2018-P-14/53-8

Regulations on licensing of activities of operators of payment systems and payment institutes

Chapter 1. General provisions

1. This Regulations on licensing of activities of operators of payment systems and payment institutes (further - the Provision) determine procedure for licensing by National Bank of the Kyrgyz Republic (further - National Bank) activities on:

a) to rendering services in acceptance and carrying out payments and calculations for the goods and services which are not result of the activities for benefit of the third parties by means of the payment systems based on information technologies and electronic means, and methods of carrying out payments;

b) to rendering services in acceptance, processing and issue of financial information (processing, clearing) on payments and calculations of the third parties to members of payment service provider, this processing, clearing center.

2. This Provision does not extend to the relations on provision by agents of retail banking services to the population based on the agency agreement with commercial bank, to activities of the non-bank financial credit institutions performing the activities based on the license of National Bank.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info